The global economy continues to slow and inflation has eased further. This is why the Governing Council decided to hold the policy rate at 5%.
In the United States, growth has been stronger than expected, led by robust consumer spending, but is likely to weaken in the months ahead as past policy rate increases work their way through the economy.
|
Bank of Canada |
Royal Bank of Canada Prime Rate |
| 5.00% unchanged |
7.20% unchanged |
Effective since Thursday, July 13, 2023
- Consult the press release issued by the Bank of Canada.
- The next Bank of Canada announcement will be on January 24, 2024.
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